Good morning traders, it’s Tuesday the 7th of July and time for today’s 07-07-2020 DAX 30 analysis. Quiet day yesterday on the markets, I noticed that our FTSE signal didn’t even fill, which is unusual. The DAX signal filled, but didn’t really have any momentum either. So the only success was found on the trading strategy and even then I only had one decent trade and two losers. Overall, I made a nice profit despite the quiet conditions. Today we’re seeing some simple profit taking but i’m mostly concerned about the failure to break the trend defining high on open this morning. Especially as we’re now trading below the low from yesterday. So watch out for the trend defining low listed below.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 tag a session high of 12836 and a session low of 12624 giving us a range of 212 points compared to the average daily range of 321. At the close of play last session, the market closed at 12738 which was 871 points above the 200EMA and 853 points above the 50EMA.
Where Is The DAX Heading?
The DAX is currently Bullish, but the trend may come under pressure today.
The German stock market index is currently showing a progressive series of higher highs and higher lows. The trend defining level is currently 12462, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 12839. I will again be looking to use the DAX trading strategy to provide some useful setups today.. . We have a classical situation on the daily chart whereby the 5EMA is above the 8EMA, the 8EMA is also above the 50EMA and finally the 50EMA is above the 200EMA. That’s a very bullish market, the first sign of a turn could be when the 5EMA breaks below the 8EMA.
DAX Levels To Watch
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12708 and the previous session Volume Weighted Average Price (VWAP) at 12731. The value area high (VAH) is currently 12766 and the value area low (VAL) is currently 12689.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 56 |
| Stochastic | K: 75 and D: 84 |
| MACD OSMA | -3 |
| Point of Control (POC) | 12708 |
| Value Area High (VAH) | 12766 |
| Value Area Low (VAL) | 12689 |
| The DAX Pivot | 12732 |
| The DAX R2 | 12944 |
| The DAX S2 | 12520 |
| Daily 5 EMA | 12562 |
| Daily 8 EMA | 12496 |
| Daily 50 EMA | 11885 |
| Daily 200 EMA | 11867 |
Economic Calendar
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart. Here are the most important announcements for today
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As for my index trading; during the last trading session I took a total of 4 trades (2 DAX trades and 2 FTSE trades). Breaking down my DAX trades, 1 was from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. Breaking down my FTSE trades, 2 were from the DAX trading strategy (DTI) and 0 were from the regular morning DAX signal. Overall, I hit 0 winners, 2 losers, and 0 break-even trades. This gave me a total profit of 3% for the day (including a trade I closed around 8pm).
To keep a track of the trading results, you can read the dax trading spreadsheet. In order to get access to the signals and to the strategy, you will need to be a member of the site. Find out more about membership.
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